Biogen (BIIB) – Analysts’ Weekly Ratings Changes

Biogen (NASDAQ: BIIB) recently received a number of ratings updates from brokerages and research firms:

  • 12/5/2017 – Biogen had its price target raised by analysts at Royal Bank Of Canada to $321.00. They now have a “sector perform” rating on the stock.
  • 12/4/2017 – Biogen was given a new $350.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy” rating on the stock.
  • 11/28/2017 – Biogen was given a new $350.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy” rating on the stock.
  • 11/28/2017 – Biogen was given a new $318.00 price target on by analysts at Sanford C. Bernstein. They now have a “buy” rating on the stock.
  • 11/27/2017 – Biogen had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $338.00 price target on the stock.
  • 11/27/2017 – Biogen had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $385.00 price target on the stock.
  • 11/27/2017 – Biogen was given a new $378.00 price target on by analysts at J P Morgan Chase & Co. They now have a “buy” rating on the stock.
  • 11/27/2017 – Biogen was given a new $400.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock.
  • 11/22/2017 – Biogen had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $350.00 price target on the stock.
  • 11/13/2017 – Biogen was given a new $400.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock.
  • 11/9/2017 – Biogen is now covered by analysts at Oppenheimer Holdings Inc.. They set an “outperform” rating and a $350.00 price target on the stock.
  • 11/6/2017 – Biogen had its price target raised by analysts at BMO Capital Markets from $381.00 to $386.00. They now have an “outperform” rating on the stock.
  • 10/27/2017 – Biogen is now covered by analysts at Canaccord Genuity. They set a “hold” rating and a $340.00 price target on the stock.
  • 10/25/2017 – Biogen had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $340.00 price target on the stock.
  • 10/25/2017 – Biogen had its price target lowered by analysts at Royal Bank Of Canada from $315.00 to $313.00. They now have a “sector perform” rating on the stock.
  • 10/25/2017 – Biogen had its price target raised by analysts at UBS AG from $285.00 to $318.00. They now have a “neutral” rating on the stock.
  • 10/25/2017 – Biogen was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $377.00 price target on the stock.
  • 10/24/2017 – Biogen had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $354.00 price target on the stock.
  • 10/24/2017 – Biogen had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $279.00 price target on the stock. They wrote, “MS franchise appears poised for modest negative growth. A tepid patient population growth rate combined with encroaching competition from new agents means existing franchise assets may have achieved peak revenues already, in our opinion.””
  • 10/23/2017 – Biogen is now covered by analysts at Guggenheim. They set a “buy” rating and a $402.00 price target on the stock.
  • 10/23/2017 – Biogen had its “overweight” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $390.00 price target on the stock.
  • 10/23/2017 – Biogen was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They wrote, “We’re downgrading the stock to neutral from buy as we don’t think the street fully appreciates Avexis competition and in coming 6-12 months we think MS pricing concerns in form of greater rebating get louder as we approach Gilenya losing patent and Celgene’s Ozanimod launch,”
  • 10/18/2017 – Biogen had its price target raised by analysts at Bank of America Corp from $358.00 to $365.00. They now have a “buy” rating on the stock.
  • 10/17/2017 – Biogen had its “buy” rating reaffirmed by analysts at Morgan Stanley.
  • 10/17/2017 – Biogen was upgraded by analysts at Mizuho from a “neutral” rating to a “buy” rating. They now have a $400.00 price target on the stock, up previously from $319.00.
  • 10/17/2017 – Biogen was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $415.00 price target on the stock, up previously from $300.00. They wrote, “gigantic” aducanumab phase 3 trial, which started in 2015 and was 50 percent enrolled in the second quarter of 2017, Shrader commented in his upgrade note. This should be seen as a “no news is good news” scenario as the Data and Safety Monitoring Board has likely seen a lot of data and hasn’t reported anything negative.Second, Biogen’s partner Eisai is set to report an interim outlook at its plaque-busting mAb that targets the form of Ab plaque thought to lead to neuronal destruction, the analyst continued. The only possible negative outcome would be strong plaque removal with no hints of cognitive benefit and any other result could either be very good or OK.Third, Biogen’s often ignored stroke programs address a very large market. Of particular note, the company’s Tysabri stoke program uncovered the “same cognitive and energy benefits in stroke patients that are routinely reported in MS patients” and turning this effect into a clinical endpoint that would be acceptable for the U.S. Food and Drug Administration is the likely next step.Finally, Ocrelizumab as part of the company’s base business is “meh not mud,” the analyst added. The therapy remains a drug with “remarkable anti inflammatory properties,” but a commercial rollout will likely be “measured.”
  • 10/12/2017 – Biogen had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $300.00 price target on the stock.

Biogen Inc. (NASDAQ:BIIB) traded up $2.47 during trading hours on Wednesday, reaching $319.87. The company’s stock had a trading volume of 915,500 shares, compared to its average volume of 1,486,591. Biogen Inc. has a 1 year low of $244.28 and a 1 year high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $67,122.77, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.98 and a beta of 0.73.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the firm posted $5.19 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. sell-side analysts expect that Biogen Inc. will post 22.03 EPS for the current year.

In related news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

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